Japan Market ends mixed on ex-dividend selling

Japan share market finished session mixed on Tuesday, 29 September 2020, as buying on hopes for a global economic recovery offset by downward pressure from ex-dividend selling as well as uncertainty over the future of the telecom sector. Among TSE sectors, gainers were led by electric appliance and information and communication issues, while oil and coal product, and electric power and gas issues led decliners.

At closing bell, the 225-issue Nikkei Stock Average was up 27.48 points, or 0.12%, to 23,539.10. The broader Topix index of all First Section issues on the Tokyo Stock Exchange declined 3.83 points, or 0.23%, to 1,658.10.

 

Shares of Japan's Nippon Telegraph and Telephone (NTT) fell 2.85%, with the firm announcing Tuesday a buyout of its wireless unit, NTT Docomo. Shares of NTT Docomo soared 15.78% on Tuesday. The move by NTT could spark a period of mobile price cuts, as new Japanese Prime Minister Yoshihide Suga called on wireless carriers to reduce prices. Shares of NTT Docomo's mobile peers, Softbank Corp and KDDI, both fell 4.14% each on Tuesday.

CURRENCY NEWS: The Japanese yen traded at 105.65 per dollar after touching an earlier high of 105.33 against the greenback.

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